Because of Brexit, investment in Britain’s auto industry has dropped by 80% over 3 years, production volume has fallen 9%, and production forecasts are 17% down, a report said, and if there’s a “no-deal” scenario, Britain will lose 35% of its current volume over the next 10 years.
Because of Brexit, investment in Britain’s auto industry has dropped by 80% over 3 years, production volume has fallen 9%, and production forecasts are 17% down, according to a report published Wednesday, and if there’s a “no-deal” scenario, Britain will lose 35% of its current volume over the next 10 years.
… Whichever way one looks, it is hard to underestimate the threat Brexit represents to the future of U.K. manufacturing,” Holweg said. There is still a possibility that Britain will leave without a deal on Friday, but a short extension maybe to June 30 is more likely.“In case of a no-deal Brexit we estimate that the U.K. is likely to lose 35% of its current production volume over the coming decade, to a level below 1 million units per annum. This equates to 58% of its peak production volume in 2016,” Holweg said.
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